Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2020

The following table presents changes in other comprehensive income:


	Before-Tax Amount		Tax Effect		Net of Tax Amount
Three months ended June 30, 2020	(in thousands)
Unrealized gain on securities	$	44,199	$	(9,775)	$	34,424

Reclassification adjustment for securities gains included in net income ⁽¹⁾	(3,005)		664		(2,341)

Amortization of net unrealized losses on AFS securities transferred to HTM ⁽²⁾	1,019		(226)		793



Amortization of net unrecognized pension and postretirement items ⁽³⁾	328		(73)		255
Total Other Comprehensive Income	$	42,541	$	(9,410)	$	33,131
Three months ended June 30, 2019
Unrealized gain on securities	$	31,994	$	(7,077)	$	24,917

Reclassification adjustment for securities gains included in net income ⁽¹⁾	(176)		39		(137)
Amortization of net unrealized losses on AFS securities transferred to HTM ⁽²⁾	1,311		(290)		1,021
Non-credit related unrealized losses on other-than-temporarily impaired debt securities	(770)		170		(600)


Amortization of net unrecognized pension and postretirement items ⁽³⁾	353		(78)		275
Total Other Comprehensive Income	$	32,712	$	(7,236)	$	25,476

Six months ended June 30, 2020
Unrealized gain on securities ⁽³⁾	$	66,581	$	(14,728)	$	51,853

Reclassification adjustment for securities gains included in net income ⁽¹⁾	(3,051)		675		(2,376)

Amortization of net unrealized losses on AFS securities transferred to HTM^{(2) (3)}	2,040		(451)		1,589



Amortization of net unrecognized pension and postretirement items ⁽⁴⁾	656		(146)		510
Total Other Comprehensive Income	$	66,226	$	(14,650)	$	51,576

Six months ended June 30, 2019
Unrealized gain on securities	$	58,056	$	(12,841)	$	45,215
Reclassification adjustment for securities gains included in net income ⁽¹⁾	(241)		53		(188)


Amortization of net unrealized losses on AFS securities transferred to HTM ⁽²⁾	2,563		(568)		1,995
Non-credit related unrealized losses on other-than-temporarily impaired debt securities	(875)		193		(682)


Amortization of net unrecognized pension and postretirement items⁽³⁾	727		(161)		566
Total Other Comprehensive Income	$	60,230	$	(13,324)	$	46,906

(1) Amounts reclassified out of accumulated other comprehensive income. Before-tax amounts included in "Investment securities gains, net" on the Consolidated Statements of Income. See Note 3, "Investment Securities," for additional details.

(2) Amounts reclassified out of accumulated other comprehensive income. Before-tax amounts included as a reduction to "Interest Income" on the Consolidated Statements of Income.

(3) Amounts reclassified out of accumulated other comprehensive income. Before-tax amounts included in "Salaries and employee benefits" on the Consolidated Statements of Income. See Note 12, "Employee Benefit Plans," for additional details.

The following table presents changes in each component of accumulated other comprehensive income (loss), net of tax:


	Unrealized Gains (Losses) on Investment Securities		Unrealized Non-Credit Gains (Losses) on Other-Than-Temporarily Impaired Debt Securities		Unrecognized Pension and Postretirement Plan Income (Costs)		Total
	(in thousands)
Three months ended June 30, 2020
Balance at March 31, 2020	$	33,054	$	—	$	(14,746)	$	18,308
Other comprehensive income before reclassifications	34,424		—		—		34,424
Amounts reclassified from accumulated other comprehensive income	(2,341)		—		255		(2,086)
Amortization of net unrealized losses on AFS securities transferred to HTM	793		—		—		793

Balance at June 30, 2020	$	65,930	$	—	$	(14,491)	$	51,439
Three months ended June 30, 2019
Balance at March 31, 2019	$	(23,433)	$	598	$	(14,798)	$	(37,633)
Other comprehensive income before reclassifications	24,917		(600)		—		24,317
Amounts reclassified from accumulated other comprehensive income	(137)		—		275		138
Amortization of net unrealized losses on AFS securities transferred to HTM	1,021		—		—		1,021

Balance at June 30, 2019	$	2,368	$	(2)	$	(14,523)	$	(12,157)

Six months ended June 30, 2020
Balance at December 31, 2019	$	14,864	$	—	$	(15,001)	$	(137)
Other comprehensive income before reclassifications	51,853		—		—		51,853
Amounts reclassified from accumulated other comprehensive income	(2,376)		—		510		(1,866)
Amortization of net unrealized losses on AFS securities transferred to HTM	1,589		—		—		1,589

Balance at June 30, 2020	$	65,930	$	—	$	(14,491)	$	51,439
Six months ended June 30, 2019
Balance at December 31, 2018	$	(44,654)	$	680	$	(15,089)	$	(59,063)
Other comprehensive income before reclassifications	45,215		(682)		—		44,533
Amounts reclassified from accumulated other comprehensive income	(188)		—		566		378
Amortization of net unrealized losses on AFS securities transferred to HTM	1,995		—		—		1,995

Balance at June 30, 2019	$	2,368	$	(2)	$	(14,523)	$	(12,157)